Venezuela’s crude production decline is accelerating, official data show. State-owned PdV produced 2.37mn b/d of crude in May, down by 4.8pc from April and 14pc lower than May last year, according to data that PdV reports on a monthly basis to Opec. PdV routinely reports higher production of around 2.7mn b/d to the opposition-controlled national assembly and the local press. But the energy ministry says the numbers reported to Opec are “more accurate”. Argus estimates Venezuelan crude production at closer to 2.2mn b/d.
展开▼
